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is it just a slowdown for the macro china economy, or is it really just specific to yum!? we saw yum! really top out last week around that $72, $73 level, and it backed off almost 10%. it's trading around $67, which was somewhat of a support. it has tried to rally off that, but not with much success. i really would look for $62.50 as the next big support line. at $62.50, if you look at all the fundamentals with yum!, that may be a point to try and get back in and dip your toes in the water a bit. > good to have you on the show. that is scott bauer of trading advantage. > > thank you angie. that's it for today. we hope you will join us tomorrow for a sneak peek into stocks you might want to own in the new year. from all of us at first business news, have a great day! . >>> crews here in san francisco have been working overnight to fix it, we will tell you what you need to know. >>> i don't know what to do. >> people are hit hard by the weekend storm continue to pick up the pieces, we will let you know when more rain is on the way and how hard it is expected to hit. >>> ther
is it just a slowdown for the macro china economy, or is it really just specific to yum!? we saw yum! really top out last week around that $72, $73 level, and it backed off almost 10%. it's trading around $67, which was somewhat of a support. it has tried to rally off that, but not with much success. i really would look for $62.50 as the next big support line. at $62.50, if you look at all the fundamentals with yum!, that may be a point to try and get back in and dip your toes in the water a...
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Dec 7, 2012
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"it's not a reflection of the strength of the economy as a whole." since january, the number of announced layoffs is actually 13% lower than it was in 2011. that's despite a dreadful january and february that saw more than 50,000 layoffs at american airlines, pepsico, j.c. penney, metlife and procter and gamble. "those are very specific company-based layoffs. they're not even sector-based." hostess brands is controlled by hedge funds that have lined up more than a hundred potential buyers for hostess brands' three dozen factories that produced lunchbox staples: twinkies, ho-hos, and ding- dongs. "it's highly problematic when hedge funds own a buisness, because the primary goal is to appease shareholders and investors." asset management firm perella weinberg partners is advising hostess brands says the bidders include five national retailers such as supermarkets. reportedly, six of the bidders have hired investment banks to help. "it would not be a surprise to see a 'white knight' come in and buy the whole thing because of its market presence." but wh
"it's not a reflection of the strength of the economy as a whole." since january, the number of announced layoffs is actually 13% lower than it was in 2011. that's despite a dreadful january and february that saw more than 50,000 layoffs at american airlines, pepsico, j.c. penney, metlife and procter and gamble. "those are very specific company-based layoffs. they're not even sector-based." hostess brands is controlled by hedge funds that have lined up more than a hundred...
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Dec 6, 2012
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economy. , introducing at&t u-verse high speed internet with more speed options, reliability and wi-fi hot spots than ever. call at&t now to get u-verse high speed internet for as little as $14.95 a month for 12 months with a one-year price guarantee. it's the fastest internet for the price. our newly expanded advanced digital network gives you more of what you enjoy online. and with at&t, our wireless gateway turns your home into a private wi-fi hot spot that connects your wi-fi devices and can even save on your smart phone data usage at home. so call now to get at&t u-verse high speed internet for just $14.95 a month for 12 months with a one-year price guarantee. that includes access on-the-go to our entire national wi-fi hot spot network, with over 30,000 hot spots. at&t u-verse high speed internet. now on our newly expanded advanced digital network, a connection your whole house can count on. ♪ your season is here. let's just call it the baking time of year. you need special ingredients. you need the staples. that's a given. you need safeway sugar for just $1.97. and that magic t
economy. , introducing at&t u-verse high speed internet with more speed options, reliability and wi-fi hot spots than ever. call at&t now to get u-verse high speed internet for as little as $14.95 a month for 12 months with a one-year price guarantee. it's the fastest internet for the price. our newly expanded advanced digital network gives you more of what you enjoy online. and with at&t, our wireless gateway turns your home into a private wi-fi hot spot that connects your wi-fi...
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Dec 6, 2012
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it is down more than 20% on the year and lists blame technical concerns, the global economy and today's court hearing in the battle against samsung for yesterday's drop. >>> a gay blocker will be there because of a controversial photo, we will have more on what a judge has ordered. >>> a new perfect fume that could make you hungry, we will have more on the fast food chain that is launching the product, stay tuned. ñsxóxgñ . >>> welcome back to the ktvu channel 2 morning news, a new jersey congressman is calling for tighter regulations after that derailment and chemical spill. they say they cannot regulate themselves and they say the crash released vinyl chloride into the air and forced many people from their homes. >>> they will continue to collect and sort items. now the city said ash bury is going to shut down and workers say they have now been told to comply. he took a photo as he pleaded not guilty to disorderly conduct and skott weaner was found inside a bathroom last october. he criticizes him and that photo did not overstep any boundaries. >> we will be fighting this case and
it is down more than 20% on the year and lists blame technical concerns, the global economy and today's court hearing in the battle against samsung for yesterday's drop. >>> a gay blocker will be there because of a controversial photo, we will have more on what a judge has ordered. >>> a new perfect fume that could make you hungry, we will have more on the fast food chain that is launching the product, stay tuned. ñsxóxgñ . >>> welcome back to the ktvu channel 2...
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Dec 1, 2012
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the only thing that keeps the economy moving is the effect of wide deficits, monetary policies. i am not feeling that good about it. >> we can string our own story together. we have to admit that in november consumer discretionary was the top performing s&p sector. how do you account for that divergence? people are now getting concerned about the consumer? >> we are getting worried about the consumer in china. we knew the industrial story in china was problematic and the consumer was the good news. now we are worried about the consumer over here despite the fact that housing prices are improving and we are headed to the holiday. dan mentions tiffany. mcdonald's which really hung in there and done well not as well as yum but mcdonald's is faced with problems as far as same store sales and turnover. none of these consumer names, none of them are doing really well. >> to the yum story if we are going to say yum is having problems in china you have to think about the other multinationals that are highly leveraged to china growth, a big driver of the future growth will come from that
the only thing that keeps the economy moving is the effect of wide deficits, monetary policies. i am not feeling that good about it. >> we can string our own story together. we have to admit that in november consumer discretionary was the top performing s&p sector. how do you account for that divergence? people are now getting concerned about the consumer? >> we are getting worried about the consumer in china. we knew the industrial story in china was problematic and the...
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Dec 4, 2012
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we got mixed reports on the economy. tom just talked about that weak data showing businesses contracting. and we're also getting warnings on weak corporate profits. so doesn't this give you pause about buying in this market right now? >> i think, i just got back from two weeks in europe speaking to portfolio managers in seven different countries. they are profoundly underinvestmented in the u.s. the endowment funds in this country are profoundly underinvested in u.s. equities. a lot of portfolio managers are hoping equities go down as measured by the s&p so their underperformance doesn't look as bad. if the market doesn't go down here i think they will be forced to chase not end of the year. >> susie: uh-huh. beyond stocks, give us your thoughts on bonds, on gold, and other commodities. >> i think gold is in a secular bull market. i think it's just been consolidating the big run it has had and will eventually go higher. bons i think with the re-election of president obama it pretty much insurances you will have low-inter
we got mixed reports on the economy. tom just talked about that weak data showing businesses contracting. and we're also getting warnings on weak corporate profits. so doesn't this give you pause about buying in this market right now? >> i think, i just got back from two weeks in europe speaking to portfolio managers in seven different countries. they are profoundly underinvestmented in the u.s. the endowment funds in this country are profoundly underinvested in u.s. equities. a lot of...
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the economy has not been doing well. we cannot do this on our own. gerri: you couldn't really -- you couldn't pay off another loan. >> i don't need another loan. is done as part biness decision for me to open up my door's not even knowing it my community is lowwstanding with another low my hea. it's not a small business decision that is appropriate to think. gerri: you are not only a small business operator. you have a three year-old >> of course. mother of sylvia, 3-year-old. gerri: were seeing a picture. >> she is called the bagel bby. the cusomers come and invest out her more than meet. gerri: a family operation. >> of course. mom and my dadand my fiance we are in there all the time. gerri: there are businesses all over this rgion who are in the same situation who are facing the same problem. >> oh, of course. this is something wdespread. i have spoken to many busnesses in the communities that i am friends with our we have reached out to show support for each other. we are all in the same boat. none of us have gotten any help. and if you go in to
the economy has not been doing well. we cannot do this on our own. gerri: you couldn't really -- you couldn't pay off another loan. >> i don't need another loan. is done as part biness decision for me to open up my door's not even knowing it my community is lowwstanding with another low my hea. it's not a small business decision that is appropriate to think. gerri: you are not only a small business operator. you have a three year-old >> of course. mother of sylvia, 3-year-old....
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Dec 6, 2012
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. >>> and john mcafee arrested -- economy. >>> and john mcafee arrested. ll. even babies. chevron is working to stop mother-to-child transmission. our employees and their families are part of the fight. and we're winning. at chevron nigeria, we haven't had a reported case in 12 years. aids is strong. aids is strong. but we are stronger. and aids... ♪ aids is going to lose. aids is going to lose. ♪ >>> well, stocks are up slightly on wall street. they've been bouncing back and forth a bit this morning, following news that europe will hold off on economical stimulus measures and unemployment benefit applications dropped last week with is consistent with moderate hiring and showing the impact of supersandy is over. the dow is currently up 5. nasdaq is up 10 and the s&p up 1. one stock to watch today is apple. checking right now, apple stock is up nearly 1% right now. it lost 6.4% of its value -- of its value yesterday. on another note, tim cook says apple will produce one of its existing lines next year. earlier this week, i fix it said it's already finding assembled in u
. >>> and john mcafee arrested -- economy. >>> and john mcafee arrested. ll. even babies. chevron is working to stop mother-to-child transmission. our employees and their families are part of the fight. and we're winning. at chevron nigeria, we haven't had a reported case in 12 years. aids is strong. aids is strong. but we are stronger. and aids... ♪ aids is going to lose. aids is going to lose. ♪ >>> well, stocks are up slightly on wall street. they've been...
SFGTV: San Francisco Government Television
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Dec 2, 2012
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efforts to make sure that those that have disabilities can also shop and be a participant in our local economy. so, with that, joaquin, thank you for your leadership. we get to launch this wonderful program right here. there are three streets in district 4 that are going to benefit from this. we're going to roll this out to all other 85 neighborhood corridors in the rest of the city. it's that many? 25? [laughter] >> all right, christmas must be coming early. i'll talk to supervisor chu about any more monies we can release. thanks very much. >> thank you, mr. mayor. (applause) >> thank you. and now i'd like to bring up the supervisor, the district that we're in today, someone who is no stranger to the importance of supporting our small businesses whose family used to run a restaurant. and like to invite to speak now supervisor carmen chu. (applause) >> thank you, everyone, for being here today. i want to thank the mayor so much for coming out and launching this pilot here on irving street. as you know, when i came on board in 2007, one of the most important things we wanted to relay was how im
efforts to make sure that those that have disabilities can also shop and be a participant in our local economy. so, with that, joaquin, thank you for your leadership. we get to launch this wonderful program right here. there are three streets in district 4 that are going to benefit from this. we're going to roll this out to all other 85 neighborhood corridors in the rest of the city. it's that many? 25? [laughter] >> all right, christmas must be coming early. i'll talk to supervisor chu...
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Dec 3, 2012
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remember the shanghai comp is not the chinese economy. if you look at technical indicators there are guying screening the table. i do think china looks very interesting for a lot of people. >> i think people at home are going to start thinking to themselves what happened to yum brands. >> so did tiffany. >> why the disconnect here? >> you have to understand that yum has a couple of specific issues. yum is not the only guy out there. >> it is the biggest guy out there. >> i think when you have competition and their comps were significantly high and this is one of the head winds for them their comps are too good and i don't think they will grow 50%. they are a luxury brand producer going after a sector of the market that is unsustainable. if you look at the chinese consumer they are not buying tiffany watches and eating at yum. it is a consumption story that is slowly getting better. >> is it time for a final trade? >> you asked me and i'm delivering. >> you bring it. you always bring it. >>> mieving on here. americans are piling into u.s.
remember the shanghai comp is not the chinese economy. if you look at technical indicators there are guying screening the table. i do think china looks very interesting for a lot of people. >> i think people at home are going to start thinking to themselves what happened to yum brands. >> so did tiffany. >> why the disconnect here? >> you have to understand that yum has a couple of specific issues. yum is not the only guy out there. >> it is the biggest guy out...
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economy. >> more in 2012 than they otherwise would have gotten. >> absolutely. >> maybe after the first of the year with all these folk, see more spending on luxury items as well. people probably spend some. >> we hope so. >> sue, thanks. >>> guys, we are watching shares of facebook today the social media giant unveiling a new tweak to its instant messaging app. facebook up just about 2%. you don't even have to be a member to use this new app and julie boorstin is in los angeles with the three things you need to know this deal. hi, julia. >> hi, sue. well, facebook is continuing its big push to make money on mobile users by offering its messenger app to billions of people around the world with phones and no longer limiting that app to facebook users. here's the deal. first, mobile messenger is a free app for texting, group chat and photo sharing with no per-text fees. just carrier's regular data costs. doesn't yet yield direct revenues to facebook but it is serving as a gateway to join the soc
economy. >> more in 2012 than they otherwise would have gotten. >> absolutely. >> maybe after the first of the year with all these folk, see more spending on luxury items as well. people probably spend some. >> we hope so. >> sue, thanks. >>> guys, we are watching shares of facebook today the social media giant unveiling a new tweak to its instant messaging app. facebook up just about 2%. you don't even have to be a member to use this new app and julie...
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no, i'm not making a call like that on the economy. i'm saying the market could back up that amount in a worst case scenario if it gets contentious in the next few weeks. but unlike the others, i do think they will come to an agreement. i do think right now you're seeing the negotiating process play out, and when you have this play out, the market that's already run up, i think we could go sideways and trade like we did today. today wasn't disastrous. volume was very light. yeah, we went out on the lows, we had some negative economic data points, and i think that's what we're in for until we get some clarity on what happens with the cliff. >> all right, charlie, folks have got to put their money to work somewhere, you think the back half of 2013 will be strong. what stocks do you like today that could prosper later on? >> well, i think some of the aerospace names have, you know, air traffic continues to grow around the world. the fleets are old. the replacement cycle is going strong. boeing just announced that they're going to take the
no, i'm not making a call like that on the economy. i'm saying the market could back up that amount in a worst case scenario if it gets contentious in the next few weeks. but unlike the others, i do think they will come to an agreement. i do think right now you're seeing the negotiating process play out, and when you have this play out, the market that's already run up, i think we could go sideways and trade like we did today. today wasn't disastrous. volume was very light. yeah, we went out on...
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Dec 3, 2012
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if we get a deal and it's good for the economy, millionaires would grow by 230,000 and their fortunes would soar by $1 trillion. yo under score the cost of the cliff, if no threat of a cliff at all, the number of millionaires would grow by 443,000, a 9% increase. the difference between no cliff and going over the cliff is more than 750,000 millionaires, or about $1.3 trillion in worth, the gdp of canada. i'm looking at the impact of economic growth on millionaires, not attacks which could reduce that growth but a cliff deal alone could be worth $1 trillion in new wealth and new millionaires. another reason why the folks in washington should keep on talking. >> really interesting stuff. so, while we have you, robert, let's talk about what we learned on oracle, announcing plans to pay out second quarter, third quarter and fourth quarter dividends this month. what is ceo larry ellison's cut on this? is it $199 million as reported a minute ago? >> it sounds like it's around $200 million. you had that great interview with him where he's talking about his dream of buying the lakers. this mi
if we get a deal and it's good for the economy, millionaires would grow by 230,000 and their fortunes would soar by $1 trillion. yo under score the cost of the cliff, if no threat of a cliff at all, the number of millionaires would grow by 443,000, a 9% increase. the difference between no cliff and going over the cliff is more than 750,000 millionaires, or about $1.3 trillion in worth, the gdp of canada. i'm looking at the impact of economic growth on millionaires, not attacks which could...
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economy and aging population in mexico. 80% of all illegal immigration comes from mexico and latin america. >>> mike has the forecast, especially -- [ inaudible ] >>> it is raiders day! how is the weather going to be? >> great for football upper 50s falling into the lower 50s partly cloudy. if you are heading out this morning to tailgate you are going to run into mist and fog by noon that will start to lift and we'll see sunshine this afternoon, mainly low to mid 60s. around the state doppler radar dry across the entire state. a lot of 50s mid to upper 50s eureka, chico, sacramento. 49 in tahoe. >>> if you are headed to that raider game, expect a lot of traffic on 80 by the coliseum later today, give yourself plenty of time. san jose clear conditions on 87 northbound light traffic a little haze you may need your wipers for drizzle, eastbound 580 north flynn roadwork until 11, three lanes blocked off, westbound good leaving tracy up towards the altamont pass. roadwork eastbound dumbarton until 6:00. >>> 4:56. dispute over the price of crab is keeping fishermen on dry ground. more than 100 b
economy and aging population in mexico. 80% of all illegal immigration comes from mexico and latin america. >>> mike has the forecast, especially -- [ inaudible ] >>> it is raiders day! how is the weather going to be? >> great for football upper 50s falling into the lower 50s partly cloudy. if you are heading out this morning to tailgate you are going to run into mist and fog by noon that will start to lift and we'll see sunshine this afternoon, mainly low to mid 60s....
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Nov 30, 2012
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>> increasing tax rates draws money away from our economy that needs to be invested in our economy to put the american people back to work. it's the wrong approach. we're willing to put revenues on the table, but revenues that come from closing loopholes, getting rid of special interest deductions, and not raising rates. we think it's better for the economy, pure and simple. secondly, listen. the american people expect us to find common ground to work together and to resolve this. frankly, sooner is better than later. [ inaudible question ] >> -- is this the necessary public posturing that needs to go on or is there a serious stalemate right now? >> there's a stalemate. let's not kid ourselves. i'm not trying to make this more difficult. if you watched me over the last three weeks, i've been very guarded in what i have to say because i done want to make it harder for me or the president or members of both parties to be able to find common ground. but when i come out the day after the election and make it clear that republicans will put revenue on the table, i took a great risk. then t
>> increasing tax rates draws money away from our economy that needs to be invested in our economy to put the american people back to work. it's the wrong approach. we're willing to put revenues on the table, but revenues that come from closing loopholes, getting rid of special interest deductions, and not raising rates. we think it's better for the economy, pure and simple. secondly, listen. the american people expect us to find common ground to work together and to resolve this....
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Dec 4, 2012
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goes down but i think the fact it goes up and, secondly, this whole question about the concern of the economy is out there. so i think that that's an issue. another question of buying the stock back, you know, i took this company private about 20 years back. and we spent almost $500 million in buying the stock back. it was great. it made sense. and today i think we need to make sure we have reasonable out there and we want to make sure that we take care of our other stakeholders. our stockholders and many other individuals makes sense. >> are you optimistic, and this will be my last question, are we going to get a deal in washington? are they going to solve this thing? are they going to rise above? >> you know they have to. and i think that it's not that complicated. running a business like ours, my focus always is increase revenues and manage costs. that is what we have to do, increase revenues and some taxes have to be increased. but then they also have to manage these costs. entitlements, medical, but it's not -- you know, it's simple. it's got to be done both ways. >> i'm going to get you
goes down but i think the fact it goes up and, secondly, this whole question about the concern of the economy is out there. so i think that that's an issue. another question of buying the stock back, you know, i took this company private about 20 years back. and we spent almost $500 million in buying the stock back. it was great. it made sense. and today i think we need to make sure we have reasonable out there and we want to make sure that we take care of our other stakeholders. our...
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so you didn't know how much it was to do with that and how much was the economy. so it will be a bit of a wash in terms of reading the tea leaves for the u.s. >> so the growth picture for the u.s., we sort of 1%, 2%, depending on what happens with the fiscal cliff. what do you think, 2.5%? >> yeah, i think we should be 2.5% to 3% by the end of next year. >> which might be a slightly better outturn. china seems to be back on track. is there anything in europe -- what's the tail risk at the moment? >> i think there's two things that could still go wrong in europe. one, there's always political risk. in italy, you do have elections coming up. there's a chance getting a higher share than people anticipate. but even then, the financial forces are going to force any government that comes into power to more or less stick to the plan morsi set out. on the other hand, there's always spain, the worries that with 25% unemployment, that you would see the default rate particularly on residential mortgages shoot up, it's 3% now, which is pretty amazing given the struggles withi
so you didn't know how much it was to do with that and how much was the economy. so it will be a bit of a wash in terms of reading the tea leaves for the u.s. >> so the growth picture for the u.s., we sort of 1%, 2%, depending on what happens with the fiscal cliff. what do you think, 2.5%? >> yeah, i think we should be 2.5% to 3% by the end of next year. >> which might be a slightly better outturn. china seems to be back on track. is there anything in europe -- what's the tail...
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Nov 29, 2012
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economy to tell you about. it grew faster than expected in the third quarter. gdp expanding at an annual rate of 2.7% topping last month's estimate of 2%. our senior economics reporter steve leisman is here. what struck you about this report? i remember the day before yesterday you were saying don't expect that kind of performance in the fourth quarter. >> exactly. i'll take it. we can get to 2.7%. it is better than 2%. i don't love how we got there. big parts of that was government spending at the federal side. also you had inventories go up. what you didn't have is -- we marked down consumer spending and business spending was negative. i want to do 3%, 3.5%, 4% with strong consumer spending and strong business spending. those will be a sustainable path for the economy. >> can't let you go without a little fed speak. mr. dudley, new york fed chief, speaking this morning. >> some important comments. hurricane sandy was directly in his district so he made some comments about it. he said that the damage was worse than first anticipated. that's something we've bee
economy to tell you about. it grew faster than expected in the third quarter. gdp expanding at an annual rate of 2.7% topping last month's estimate of 2%. our senior economics reporter steve leisman is here. what struck you about this report? i remember the day before yesterday you were saying don't expect that kind of performance in the fourth quarter. >> exactly. i'll take it. we can get to 2.7%. it is better than 2%. i don't love how we got there. big parts of that was government...
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concerns over the uk economy. so we'll see how investors take to what's probably going to be a loosening up of the budget targets the chancellor set when they came into power. so we'll keep our eyes on that. and at the moment today, more talks in brussels. the greeks now getting their buy back program approved 37 trying to sort out a single supervisor. i think these talks will be fairly tricky because there is a majority who bt with a tant the be supervisor for all the banks. german didn't like that. so those talks will go on longer than originally hoped. but we are marginally higher going to the u.s. open. thank you. >> kelly, thank you. i'll just call you r kelly in now. >> that's not bad. >> ross, thank you. great to see you. >>> when we come back on squawk, bank of america ceo brian moynihan in his own words, we caught up with him yesterday to talk about business, the economy and the looming figure. as we head into a break, bank of america, best performing dow component of the year. up about 77%. ♪ [ male an
concerns over the uk economy. so we'll see how investors take to what's probably going to be a loosening up of the budget targets the chancellor set when they came into power. so we'll keep our eyes on that. and at the moment today, more talks in brussels. the greeks now getting their buy back program approved 37 trying to sort out a single supervisor. i think these talks will be fairly tricky because there is a majority who bt with a tant the be supervisor for all the banks. german didn't like...
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growing the economy, really how you provide additional revenues to pay the bills. that ought to be a part of the equation too. both sides know there has to be some spending cuts. and also that means entitlements. we've talked in terms of what we can do with medicaid reform and things we can do with entitlements where we the states can do more with less and help them with some of their entitlement reform. raising revenue and cutting spending, clearly that is the two issues on the table. i'm hopeful that the president, the executive branch, the congress can come together. ashley: i mean is this something going on in private that gives you more hope right now something will get done before we go over the cliff? i mean what's your sense? you've met with the president. i believe you will be meeting with speaker boehner later on this afternoon. what's yourrsense right now? >> well, i'm anxious to hear what speaker boehner and majority leader reid have to say to us also and see what congress's side of the issue is. but i believe the pressures will come to be they have got
growing the economy, really how you provide additional revenues to pay the bills. that ought to be a part of the equation too. both sides know there has to be some spending cuts. and also that means entitlements. we've talked in terms of what we can do with medicaid reform and things we can do with entitlements where we the states can do more with less and help them with some of their entitlement reform. raising revenue and cutting spending, clearly that is the two issues on the table. i'm...
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that's why it's great gauge of the economy. so far american consumers are still spending away and he says that you can thank at least in part an improving housing market for that. carl? >> all right. thank you very much, becky. great stuff. thank you for sticking around. >> thank you. >> sticking with the cliff, governors are set to meet with president obama and congressional leaders. the meeting coming one day after the white house rejected a republican plan for averting the cliff. chi chief washington correspondent john harwood is outside of the white house this morning. how do business leaders change the equation? >> reporter: the president is trying to orchestrate a consensus behind his approach to deficit reduction. this is a group part of the national governors association executive committee. a diverse group. he carried three states he represents and governors include scott walker, leader of conservative government reform movement going after public employee pensions and shrink government obligations that way. governors
that's why it's great gauge of the economy. so far american consumers are still spending away and he says that you can thank at least in part an improving housing market for that. carl? >> all right. thank you very much, becky. great stuff. thank you for sticking around. >> thank you. >> sticking with the cliff, governors are set to meet with president obama and congressional leaders. the meeting coming one day after the white house rejected a republican plan for averting the...
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and you think that's going to have an impact on the economy? >> of course it is. it is-- well it's not the same as extending the bush tax cuts. it's part of the fiscal cliff, because just like all of these other things, stuart, people are trying to move income out of 2013, into 2012, which makes this year look a little bit better than it should, but what it means is that when we hit january 1st, 2013, the economy's going to collapse as far as i can tell. stuart: whoa, whoa, collapse is a strong word, art. >> collapse as low as we are, i agree. stuart: now, the obamacare tax change is a change in the tax rate. >> yes. stuart: that's something that the president's absolutely insisting on. he wants tax rates to go up for the top two income brackets and that's being forced by the republicans. they don't want the rate to go up. they'll pay more in overall revenue, but don't want the rate to go up. your comments please on the president's stand-fast position on raising tax rates? >> well, rates are where the real action is, i mean, if you broaden the base and lowered rat
and you think that's going to have an impact on the economy? >> of course it is. it is-- well it's not the same as extending the bush tax cuts. it's part of the fiscal cliff, because just like all of these other things, stuart, people are trying to move income out of 2013, into 2012, which makes this year look a little bit better than it should, but what it means is that when we hit january 1st, 2013, the economy's going to collapse as far as i can tell. stuart: whoa, whoa, collapse is a...
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if the economy is great --. ashley: so difficult to trade in this environment right now. >> it is so difficult to trade. people have to be very aware. that is the key word you use, trade. do you want to be a trader or do you want to be an investor? so many people tell me, charles, i don't want to be trader. they buy at 30, goes to 28.04, oh, my god i need to sell it, i'm losing my shirt!. what the heck. i thought you didn't want to be a trader? one of the reasons i'm getting a little bit bullish about the market in general. i'm a individual stock guy. i don't like to do the macro thing. i like the way the market acts. we've seen a shaking out of the weak sisters. we had the market pull back sharply. we saw the pullback in apple. weak holders of stocks, weak sisters have for the most part been shaken out. it would take disasterous news --. ashley: talking about disaster, what if we went over the cliff? >> if we did go over the cliff and saw the market pull back sharply i would look to be a buyer on the pullback.
if the economy is great --. ashley: so difficult to trade in this environment right now. >> it is so difficult to trade. people have to be very aware. that is the key word you use, trade. do you want to be a trader or do you want to be an investor? so many people tell me, charles, i don't want to be trader. they buy at 30, goes to 28.04, oh, my god i need to sell it, i'm losing my shirt!. what the heck. i thought you didn't want to be a trader? one of the reasons i'm getting a little bit...
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the doom and gloom of the fiscal cliff hides an important point about our economy. we play our cards right, america could be headed for another economic renaissance. short-term indicators are looking good. jobs are being created, consumer debt is shrinking. the housing market is making a comeback. forget silver linings, housing has been the golden lining around the economic cloud hanging over the country. mortgage rates are expected to stay low through 2014. home affordability is as good as it it's been in generations. that's going to attract buyers who spent the last few years waiting for prices to bottom out. that's going to help millions of homeowners who currently owe more on their homes than the home is worth. the home prices rising, confidence will return. and longer term prospects also have some real hope in america. we're in the midst of a domestic energy boom that will fuel growth for years to come. advances in horizontal drilling and hydraulic fracturing, you've heard it as fracking, have changed the economics of natural gas recovery. that sent prices way
the doom and gloom of the fiscal cliff hides an important point about our economy. we play our cards right, america could be headed for another economic renaissance. short-term indicators are looking good. jobs are being created, consumer debt is shrinking. the housing market is making a comeback. forget silver linings, housing has been the golden lining around the economic cloud hanging over the country. mortgage rates are expected to stay low through 2014. home affordability is as good as it...